“RIM did in fact beat on the bottom line, reporting $1.03 against the $1 Wall Street was looking for. And the company’s 44.1 percent gross margin was also better than expected and encouraging. But that good news came on lighter than expected revenue with RIM reporting $3.53 billion versus the $3.6 billion consensus. And the numbers go downhill from there: The 3.8 million subscribers comes against the 4.1 million expected; the 8.3 million Blackberrys shipped contrasts sharply with the 8.7 million analysts anticipated,” Goldman reports.
“And looking at Third Quarter guidance, the news gets even more dismal, at least as far as RIM’s historical performance is concerned: RIM is offering an EPS range of $1 to $1.08. Analysts were expecting $1.05. The revenue range from the company is now $3.6 billion to $3.85 billion, which falls well below the consensus estimate of $3.9 billion,” Goldman reports. “RIM also expects 4 million to 4.3 million new subscribers, which is again lower than the 4.3 million Wall Street was looking for.”
Goldman writes, “The snap judgment would be to take the entire smartphone sector lower based on RIM’s news, but this actually might be veiled, good news for the likes of Apple.”
Much more in the full article here.
Like I said last week, 11 million iPhones sold this quarter.
More liked buy one get one free. 7 mil. oh wait 50% return rate, lets make that 3.5. Sure, sure I jest… maybe.
Wife’s on her sixth BBY since 1/1/09.
“…The 3.8 million subscribers comes against the 4.1 million expected; the 8.3 million Blackberrys shipped…”
these numbers tell you what an an ongoing “Buy one get one Free” promotion gets a company trying to artificially prop up sales numbers.
Oh what a crock of shit. All of this is based on what a bunch of dipshit analysts were predicting or expecting:
“4.1 million expected” “analysts anticipated” “Analysts were expecting” “well below the consensus estimate” “lower than the 4.3 million Wall Street was looking for.”
What a system.
I’m not buying it. Check out this article from the Globe and Mail that breaks the numbers even further. I am an iPhone and Mac user, but a breakdown shows that RIM is leading the pack…
http://www.theglobeandmail.com/globe-investor/investment-ideas/rims-financials-have-led-the-pack/article1298202/
The Globe and Mail? That canuck publication is comparing the one-trick pony RIM to the stable of clydesdales that is Apple.
The problem for RIM, if their one pony is beginning to waver, the entire company will dump.
I agree that RIM with their Blackberry product is ahead of Apple and their iPhone product in that the name Blackberry is still synonymous with smartphones to the general public.
Yes the iPhone is making in roads into RIM’s marketshare, however the iPhone still has a way to go before trouncing Blackberry out of peoples, read mainly business users, minds. Time is a key factor here and as long as Apple keeps finding new features to improve the iPhone feature set so much the better.
Granted the App Store is second to none, which is a good start, however needs more big name game developers to release titles into the App Store, EA is only but one.
I don’t have an iPhone or a Blackberry, not anymore anyway and thus far I don’t even have any kind of cellphone and that is mostly due to price, the iPhone here in the UK is far too expensive for me at GBP £440.40 for the base 3GS or based on rates of 09/25 using calculator in SL of US $701.64.
I know what I need and want, and that is the iPhone, and so nothing else will do, so I go without for now.
@mugwump
Did you even read the article? One trick pony? That’s the point – you can’t factor in Apple’s other product lines when looking at revenue in this space. Goldman missed the mark on this one. (sent from my iPhone)
@ Apple Cider
‘like the Monicker.
But maybe it’s time for those “sent from iPhone” messages could simple be signed “SFI” at the end of each message?
That would be a distinctive way to show iPhone use and trends.
What do you think?
RIMM, just WHERE is your competitive consumer touchsreen phone??…you’ve had close to three years now to really come up with something decent, and what you have out there just aint it.
Jump off your corporate pride and compete on a consumer level.
The arrogance of what Ballsy said when the iPhone came out…I haven’t forgotten.
Cult shareholders…demand a real consumer product and a real product line from your CEO’s, because Apple’s next new additional device, not upgrade existing, is gonna kill you. 15 months out the door, and 77,000 apps…many that are extremely useful. Maybe Jobs was right when he said they were 5 years ahead of the competition.
Blackberry, where is your consumer touch product to bulk your down quarters??? Even Palm has made a brave attempt and taken some of your sales. If Palm can come out the door with something, then why can’t you. 50% return rate on your cumbersome touch product??? Unbelievable! Get busy, or get a new CEO!
BLACBERRY where pearl was a good phone until the IPHONE came out and blackberry storm is a piece of trash!!?!